LS Power Completes Financing For Dover SUN Park, Awards Construction Contract
York (September 22, 2010) – White Oak Solar Energy, LLC
(White Oak), a subsidiary of LS Power, has completed
project financing for its 10 megawatt Dover SUN Park to
be constructed in Dover, Delaware. White Oak's financing
was arranged by Union Bank, N.A.
White Oak has also executed agreements with SunPower
Corporation to design, construct, operate and maintain
the solar park. SunPower will install SunPower Tracker®
systems and high efficiency SunPower E19 solar panels at
The Dover SUN Park will be the first utility-scale solar
power plant in the region. White Oak has entered into
long-term power purchase and environmental attribute
agreements with the City of Dover, Delmarva Power and
Light, Delaware Municipal Electric Corporation and the
Delaware Sustainable Energy Utility for the full output
of the facility.
Engineering of the Dover SUN Park is underway and
equipment procurement will begin immediately. Site
preparation activities will commence in the near term,
with equipment installation expected to commence in
January. Commercial operation of the Dover SUN Park is
scheduled for summer of 2011.
An affiliate of LS Power will manage construction and
operations of the project.
In addition to the Dover SUN Park, LS Power is currently
developing several other large-scale solar projects in
the US. LS Power is a power generation and transmission
group with a proven track record of successful
development activities, operations management and
commercial execution. LS Power has been involved in the
development, construction, or operations of over 20,000
MW of power generation throughout the United States. LS
Power is actively developing both power generation and
transmission infrastructure to serve the need for new
generation and improve the aging transmission system.
Highly regarded in the financial community, LS Power has
raised over $13 billion in debt and equity since 2005.
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